Asian stocks wipe over $1 trillion in a single day; Bitcoin holds above $75,000.

Asian equities shed more than $1 trillion in a single session as a post-US midterm tech selloff spread across the region, with South Korea's KOSPI falling as much as 9% and tripping a circuit breaker for the seventh time this year, Taiwan's weighted index dropping about 9% as TSMC hit its limit-down price, and Japan's Nikkei 225 entering a technical bear market more than 20% below its peak; analysts attributed roughly $203 billion of the losses to the KOSPI's 6% decline, $450 billion to the Nikkei's 6% drop and $210 billion to a 1.5% fall in the Shanghai Composite. The rout began in New York on Thursday, when the Nasdaq 100 fell 6.4% and lost about $2.5 trillion in market value, the Nasdaq Composite dropped 5.5% into correction territory nearly 12% below its October high, and semiconductors slid 12% with Nvidia down 9%, as investors priced in tighter scrutiny of AI and data-center expansion after Democrats swept both chambers of Congress, amplified by Texas Governor-elect Gina Hinojosa's call for a moratorium on new data centers. Bitcoin held up better than tech stocks but was not immune, falling about 6% in 24 hours to roughly $75,600 and touching an intraday low near $75,200, a smaller drawdown than the Nasdaq's that macro analyst Alex Krüger said had occurred only once before, on March 16, 2020. Crypto derivatives absorbed heavier damage, with more than $1.25 billion liquidated in 24 hours, nearly 90% of it longs, and Deribit's weekly options expiring Friday at 08:00 UTC carrying no call open interest at or below $75,000. Fundstrat's Tom Lee compared the episode to a combination of "Liberation Day and DeepSeek" and said such sell